In a Mediation

question 64

Multiple Choice

In a mediation

• A)the parties to the dispute attempt to their own agreement.
• B)the decision of a third party such as a judge is binding.
• C)the decision of a third party such as a judge is non-binding.
• D)the decision of a third party such as a judge can be binding or non-binding.

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Definitions:

Premiums

Payments made for insurance coverage, often periodically to maintain the insurance policy.

Beneficiary

An individual or entity chosen to receive benefits or assets from a will, insurance policy, or trust.

Coinsurance

An insurance policy provision under which the insurer and the insured share costs, after the deductible is met, according to a specific formula.

Insured

A person or entity covered by an insurance policy, protecting them against financial loss from specified risks.